I’ve always been surprised that Countrywide became so reckless after working so hard to remain an independent company while other competitors fell by the wayside. I guess you’re saying they were always vipers and that it was inevitable they would destroy the company.

Washington, the founders came up through New York in the old days. They learned early that there are certain costs of getting business done within certain efficiencies that would minimize bureaucratic issues. The end came as no surprise to me. The financial services arm where I worked imploded first (follow the money). I was long gone by then so the explosion didn’t hurt me. But there were good people who got burned.